US - Pittsburgh had the outlook on its debt revised to negative from stable by Standard & Poor's, which cited rising financial pressures tied to the city's pension system.
Pennsylvania's second-biggest city by population also faces "uncertainty regarding the potential takeover of the city's pension system by the state should the pension's funding levels fall below 50...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date